About Conduct Supervision
Conduct Supervision is responsible for the setting up and implementation of the regulatory framework aiming to secure appropriate consumer protection in operations of licence holders in the financial services industry. The Conduct Supervision section is a relatively newly-formed team which currently employs 25 persons and is projecting growth as it is gradually assuming a cross-sectorial function covering under its remit supervision in conduct of credit institutions, securities, trusts, company service providers, as well as insurance and pensions.
The eventual appointee will be joining the Insurance team in the review of conduct of the respective licence holders. Reporting into the Senior Manager within Conduct Supervision, the individual will be expected to carry out the following tasks:
- Supervise the work activities of the other team members to ensure that the duties assigned to the team are effectively carried out.
- Participate in and lead on-site inspections carried out at the premises of insurance undertakings and intermediaries with a view to assess the latter’s adherence to the applicable conduct of business rules.
- Lead and participate in any thematic reviews with respect to the insurance sector.
- To review the soundness of quantitative disclosures made to consumers as part of regulatory requirements.
- Mentor other junior analysts in the carrying out of their respective duties.
- Assume responsibility for the management and development of direct reports.
- Handle planned or reactive conduct issues that arise on a day to day basis.
- Exercise supervisory judgement in handling cases, challenging insurance undertakings and intermediaries on consumer protection issues and ensure that such issues are dealt with expeditiously.
- Undertake any other tasks as delegated by senior management in line with the exigencies of the Conduct Supervisory Unit and the Authority.
- Represent the MFSA in engagement with internal and external stakeholders, including representation on any Standing Committees/Working Groups relating to investor protection of EIOPA.
- Assist in work related to the legislative process, in particular in relation to the drafting or review of draft laws, rules and regulations and s/he will also be involved in leading work related to the preparation of replies with regards to EU questionnaires.
- We are looking for candidates with solid academic background in accountancy, insurance, economics, and/or law or in another finance related background. Candidates having experience in a numerical/quantitative environment would be considered an asset.
- The role calls for an academic qualification in a relevant field of study at National Qualification Framework Level 6 or better, duly certified by the Malta Qualifications Recognition Information Centre (MQRIC) or a widely recognised professional qualification at a comparable level.
- You will also possess a minimum of five (5) years working in financial services, ideally in the area of insurance.
- If you do not have the necessary academic or professional qualifications but you have at least ten (10) years of relevant experience, we would still be interested in speaking with you.